Automotive Coatings Manufacturing in the US - Industry Market Research Report

Automotive Coatings Manufacturing in the US - Industry Market Research Report

Automotive Coatings Manufacturing in the US

Revenue for the Automotive Coatings Manufacturing industry has contracted in recent years. The industry primarily produces protective coatings, including electro coats, primers, base coats and clear coats, typically applied during the automotive manufacturing process. As a result, the industry's performance has been hurt by a decline in new car sales. Additionally, consumer confidence has decreased, meaning consumers are less likely to spend on mostly discretionary purchases of industry products. To this end, industry revenue is expected to have declined at a CAGR of 3.3% to reach $3.6 billion in 2023, including a decline of 11.0% in 2020 alone due to the COVID-19 pandemic. Industry profit is also estimated to fall during the period due to lackluster growth in downstream markets, volatile input prices and the effects of a broader economic contraction caused by the pandemic. Revenue is anticipated to rise 1.4% in 2023 alone as new car sales increase.

This industry manufactures various coating products to decorate and protect automobile surfaces against wear, weather and corrosion. Final products are sold to automotive manufacturers, wholesalers, retailers and auto shops.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.